Eastern Consolidated Arranges Lease for Social Media Sensation's Fourth Manhattan Restaurant
NEW YORK, NY – February 10, 2017 – Eastern Consolidated’s Retail Leasing Division has arranged a 10-year, 2,000-square-foot ground lease at 177 Ludlow Street on the Lower East Side for social media sensation Black Tap Craft Burgers & Beer.
Known for its celebrity clientele including Rihanna and Gigi Hadid, Black Tap currently operates other Manhattan locations in SoHo, the Meatpacking District, and recently opened at The Blakely New York in Midtown. The new Lower East Side spot is scheduled to open in the third quarter of 2017.
Eastern Consolidated Director Jeff Geoghegan represented the owner, and Senior Director and Principal James Famularo procured the tenant in this transaction.
“Black Tap is a master of social media, well-known for its one-of-a-kind milkshakes topped with marshmallows, cotton candy, M&Ms, cookies and other tasty treats that are photographed and posted to Instagram,” Famularo said. “The owners were the most meticulous restaurateurs I’ve ever worked with, looking at dozens of spaces all over Manhattan before settling on 177 Ludlow Street. They hit it out of the park with their other locations and wanted to make sure they hit a home run with this location too.”
Geoghegan added, “The Lower East Side is an ideal neighborhood for Black Tap to open its fourth location because the area is attracting millennials and new development. Black Tap’s engineers, architects and designers visited the space eight times and are now building out the space. It’s very exciting.”
The space at 177 Ludlow Street, between East Houston and Stanton Streets, includes a brand new built out restaurant, 2,000 square feet on the ground floor, 2,000 feet on the lower level, and 20 feet of frontage.
The location is nestled between hotels including the Hotel Indigo, Hotel Ludlow, and The Thompson Hotel, and is a few blocks from Essex Crossing, the 1.65-million-square-foot mixed-use community currently under construction. It’s also conveniently located near the F train at Delancey Street and J, M, and Z trains at Essex Street.
Powered by a highly skilled team of over 100 brokers with a fluency in 15 languages, Eastern Consolidated is one of the country’s preeminent full-service commercial real estate firms. Through three core divisions—Investment Sales, Capital Advisory, and Retail Leasing—Eastern Consolidated serves an impressive roster of international and domestic institutional and private investors on real estate transactions of all sizes and across all property types. For more information, visit www.easternconsolidated.com and follow us on Twitter@EasternConsol.
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